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20121101
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. ramin mellegard joins us from the business desk. we saw many americans celebrating the re-election of president obama but it seems the mood was different on wall street. >> it really was. we're seeing the reactions following the elections. investors really concerned about tax and spending issues and that's going to be a major focus going forward. government spending cults and tax hikes are set to go into effect at the end of the year. the so-called fiscal cliff. investors worry obama will be unable to resolve the crisis with the house of representatives still controlled by the republicans. the key index on the new york stock exchange fell sharply when markets reopened after the election. the dow jones industrial average at one point lost over 360 points. the index finished the day at 12,932, down 2.3% from the previous day's close. new york stocks dliped from the start as investor concerns shifted to how obama will address the country's economic challenges. they're particularly worried the fiscal cliff could weigh down u.s. growth into the new year. >> it's a pretty sad da
of early elections. one of the world's biggest consumers of fuel may be self-relia self-reliant. u.s. us a makers churn out car after car but it seems americans will making more fuel to power them. >> that's light. industry analysts expect a major shift will take place in the near future. we're hearing the united states will become the world's largest oil producer in the next five years. the iea said u.s. oil output would surpass saudi arabia. commercial production has already begun. the agency says the u.s. will be nearly self-sufficient in energy by 2035. that's due to an expected surge in production of shale gas. a type of natural gas trapped in under ground rock. america relies on it for 20% of import needs. now let's get a check on the markets. the yen is losing ground slightly against the dollar and the euro. dollar/yen is changing hands at 79.57 and the euro/yen is quoted at 100.99 to 104. debt stricken greece could get bail out funds. share prices are rising slightly in tokyo. this morning the index stands at 8,695. that's up about two-tenths of a percent. the index fell six days
of powers will be temporary. he's has confidence in the search for a compromise. they're asking him to use restraint. >> democracy means the rule of law and the division of powers. therefore, i appeal to the egyptian leadership to seek a compromise. >> that is what the demonstrators in cairo are looking for. they vow to continue until he meets their demands. >> for the latest on the story, we are joined now from cairo, and he is following the events there. the president is trying to diffuse the situation and he is negotiating with senior judges. is there any sign of a compromise? >> not yet. the country is really waiting to see if he is going to give in and see if there will be a compromise. the only thing he underlined yesterday is the measure of glory. by substance, no compromise yet. >> what about the mood on the street compared with what you have experienced over the last 18 months? what is it like? >> the muslim brotherhood it is against all the other political institutions. they are unified as they never were before expect that in the military behind mubarrak. there are two big demon
Search Results 0 to 2 of about 3